Real estate update: Geist

The spring market has arrived, and we are excited to present the latest market update. During the last month, 228 homes have sold in the Fishers/Geist market at an average price of $252,000, which represents a 16 percent decrease over the same period in 2016. Limited inventory has continued to put upward pressure on prices throughout our market. Homes were, on average, on the market for 57 days and sold for an average of 96 percent of list prices.

Our market continues to be active and buyer demand remains strong, resulting in a modest 4 percent increase of total sales. The interaction between inventory and prices will be one we monitor closely throughout summer.

Karen Tanner and Annie Schweiger are brokers with Bonwell Tanner Group. They have a combined industry experience of 14 years. Bonwell Tanner is a full-time, full-service real estate team. For more, call 317-361-6333.